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Indian retail industry sees big bump in deal activity

Deal activity in the Indian retail industry surged 30.4 per cent during the third quarter, compared with the last four-quarter average, according to GlobalData’s deals database.

Thirty deals worth US$746.38 million were announced during the quarter, compared to an average of 23 across the last four quarters.

Venture financing was the leading category in the quarter with 20 deals which accounted for 66.7 per cent of all deals.

In second place was private equity with seven deals, followed by mergers and acquisitions, with three transactions, respectively accounting for 23.3 per cent and 10 per cent of overall deal activity in the country’s retail industry during the quarter.

In terms of the value of deals, M&A was the leading deal category in the Indian retail industry with deals totalling $557.01 million, while venture financing and private-equity deals totalled $155.44 million and $33.93 million, respectively.

The top five retail deals accounted for 57.5 per cent of the overall value, totalling $429.24 million. They were: 

  • Facebook, Naspers Ventures, RPS Ventures, SAIF Partners India, Sequoia Capital India, Shunwei Capital Partners and Venture Highway’s $125 million venture financing of Fashnear Technologies.
  • The $100 million venture financing of Cars24 Service by DST Global, Euler Capital, Exor Seeds, Freemark Partners Management, KCK, Kingsway FCI Fund, Moore Strategic Ventures, MS Dhoni, Partners Fund, Scott Kapnick, Sequoia Capital India and Unbound.
  • Blackstone Capital Partners’ $79.24 million private-equity deal with Future Lifestyle Fashions.
  • The $70 million venture financing of Grofers India by KTB Ventures, Sequoia Capital India, SoftBank Vision Fund and Tiger Global Management.
  • Kedaara Capital Advisors’ private-equity deal with Lenskart Solutions for $55 million.

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